Most employees currently at the financial-products unit of American International Group Inc. have indicated they will accept cuts in a batch of March retention awards if the bonuses are paid out as early as next week, people familiar with the matter said. AIG sought the arrangements to help meet requests from U.S. pay czar Kenneth Feinberg that the government-controlled insurer reduce its promised $195 million in March 2010 bonuses to AIG Financial Products employees and recoup $26 million of what it paid out last year. The company is trying to defuse a potential showdown over the bonus payments at the…
AIG Gets Strong Response on Bonus Cuts
Most Popular Articles
Latest Articles
Labor market report is good news for mortgage rates
Friday’s jobs report came in as a miss of estimates and wage growth came in lower than expected, which is good news for mortgage rates.
-
Virginia Realtors: Zillow’s touring agreement may not be legal
-
Low inventory creates challenging conditions in North Carolina’s housing market
-
Tri-state area housing shortage could cost the region economically
-
Remote reverse mortgage counseling now permanently permitted in Massachusetts
-
NAR settlement terms slated to go into effect in mid-August